KCB has signed three multi-billion shilling mortgage projects with Tanzania’s state housing company, marking a formal entry into the country’s homes market. The lender said on Wednesday it will spend Sh3 billion on three real estate developments in a partnership with the National Housing Corporation (NHCTZ), which owns most of Tanzania’s prime land. The money is to be invested in three chunks, the first Sh700 million ($7 million) was deployed in August and two others of between Sh800 million ($8 million) and Sh1 billion ($10 million) each will be released in phases. It is part of a Sh9.6 billion IFC loan that KCB secured in late August. read on: http://www.businessdailyafrica.com/KCB+signs+Sh3bn+deal+with+Tanzania+mortgage+financier+/-/539552/1248776/-/xh8spz/-/index.html
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Thursday, October 6, 2011
KCB signs Sh3bn deal with Tanzania mortgage financier NHCTZ
KCB has signed three multi-billion shilling mortgage projects with Tanzania’s state housing company, marking a formal entry into the country’s homes market. The lender said on Wednesday it will spend Sh3 billion on three real estate developments in a partnership with the National Housing Corporation (NHCTZ), which owns most of Tanzania’s prime land. The money is to be invested in three chunks, the first Sh700 million ($7 million) was deployed in August and two others of between Sh800 million ($8 million) and Sh1 billion ($10 million) each will be released in phases. It is part of a Sh9.6 billion IFC loan that KCB secured in late August. read on: http://www.businessdailyafrica.com/KCB+signs+Sh3bn+deal+with+Tanzania+mortgage+financier+/-/539552/1248776/-/xh8spz/-/index.html
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